CHICAGO, Oct. 31, 2017 (GLOBE NEWSWIRE) -- Bento for Business, the award winning provider of expense management solutions, today announced the opening of its new Chicago office, adding to the growing list of financial technology (fintech) companies based in the Windy City. The company will continue to maintain its Silicon Valley presence as it expands to meet the needs of small and medium-sized businesses nationwide.
“Bento is building a modern business banking platform that works for companies across all industries and locations, and Chicago is key to that strategy. This city is rapidly becoming a hub for fintech, providing Bento with access to the remarkable and specialized talent we need to build an enduring, market-leading company,” said Farhan Ahmad, CEO of Bento. “Chicago is the ideal home as Bento expands to provide more businesses with tools specifically designed to stamp out the misuse of funds and streamline expense management overall.”
Employee theft now costs U.S. businesses $50 billion a year. It is also the cause of one third of all U.S. businesses going bankrupt. To reduce this risk, Bento offers full-featured employee expense cards connected to an easy-to-use software platform. Bento not only empowers companies to easily control where, when, and how much employees can spend—thereby significantly reducing the possibility of unauthorized spending—but also eliminates all the manual pain of expense management like filling out expense reports and manually syncing to accounting systems. As such, demand for Bento has surged from companies across various sectors. Bento now serves thousands of customers nationwide and maintains an industry-leading Net Promoter Score (NPS).
Bento joins Chicago’s growing fintech presence that includes startups such as Peanut Butter, Pangea Money Transfer, BitAML, CFX Markets, and M1 Finance, as well as established companies like Discover and Morningstar.
“Chicago is well on its way to becoming the epicenter of fintech,” said Bruce Rauner, Governor of Illinois. “The city has the best, most loyal workforce in the country in addition to world-class universities that serve as a source for research and talent. Its location also makes it easy for companies to expand nationally, moving beyond the Silicon Valley echo chamber or outside of Wall Street. We welcome Bento as a member of our state’s growing technology development network.”
“This is a city that has all the elements to establish a significant fintech cluster, and we’re doing everything we can to support and connect companies so that they can achieve their potential,” said Jason Henrichs, co-founder and Chairman of FinTEx. “We’re bringing in the right kind of innovators, and Bento is a perfect example. It is a unique company with a world-class executive team and an excellent value proposition, offering a true service to small businesses who desperately need it.”
To find out more about how Bento helps small and medium-sized businesses, please visit www.bentoforbusiness.com.
About Bento for Business
Bento for Business provides financial solutions that fit small and medium-sized businesses, combining the security of a bank with the ease and convenience of a modern technology company. Bento provides small and medium-sized business owners with much needed controls and better features than more expensive and cumbersome enterprise solutions. The company’s founders have their roots in large financial services firms such as Barclays, JPMorgan Chase, Blackhawk Network, and Discover Card. Based in San Francisco and Chicago, Bento is venture backed. Learn more at www.bentoforbusiness.com or call 866-220-8455.
For Editorial Contact:
Amber Moore
GMK Communications for Bento for Business
amber@gmkcommunications.com
503.943.9381